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Mortgage Market Update
My Mortgage Company
Mark Monson
Friday, November 6, 2026
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Should you refinance right now? |
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Hi there. This week I'm answering one of the questions I hear most often from my clients.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Refinancing Strategy
When refinancing actually makes sense
A lot of homeowners ask me whether they should refinance, and my answer is always the same: it depends on your situation. Refinancing isn't a one-size-fits-all move. The math changes based on how long you plan to stay in your home, what your current loan terms are, and where rates stand compared to your existing rate. Some people see real benefit; others find it doesn't pencil out. I walk through the specifics with every borrower because the only way to know if it's right for you is to look at your actual numbers. There's no rush and no pressure—just clarity. If you've been wondering whether now is the time, I'd be happy to run the numbers with you and show you exactly what refinancing would look like. Reach out if you'd like to explore whether refinancing makes sense for your home and your goals.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Mark Monson
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